Whoops! Thousands of Target Gift Cards Not Activated

by Christopher Freeburn | January 2, 2014 11:30 am

Target[1]It’s been a rough holiday season[2] for Target (TGT[3]).

Just weeks after admitting that hackers had stolen customer payment data, Target says that some of its holiday gift cards weren’t activated correctly and won’t work when presented at cash registers. The discount retailer has apologized for the problem, NBCNews notes.

Some media reports indicate that up to 40,000 Target gift cards weren’t properly activated. Target has declined to reveal the number of gift cards affected, but a Target spokesperson maintained that “less than 0.1%” of Target gift cards sold over the holidays suffered from the problem.

Target says that customers with unactivated Target gift cards can bring them to the guest service desk in Target stores or contact Target by telephone. Target indicated that it would honor the value of the affected gift cards.

Last month, Target announced that hackers had penetrated its security systems, stealing data linked to 40 million credit and debit cards from its stores[4].

Despite the news, shares of TGT stock rose more than 1% in Thursday morning trading.

  1. [Image]: https://investorplace.com/wp-content/uploads/2011/05/Target-2.jpg
  2. a rough holiday season: http://www.nbcnews.com/business/more-target-trouble-some-holiday-gift-cards-not-activated-2D11820755
  3. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  4. linked to 40 million credit and debit cards from its stores: https://investorplace.com/2013/12/identity-theft-alert-40m-target-customers-involved-massive-data-breach/#.UsWTI3m1Kf0

Source URL: https://investorplace.com/2014/01/whoops-thousands-target-gift-cards-activated/
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